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Green Planet Bioengineering Co., Ltd.: Green Planet Reports Second Quarter 2009 Results: Continued Strength

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^{Published in Business and Finance on Monday, August 17th 2009 at 6:29 GMT, Last Modified on 2009-08-17 06:29:20 by Market Wire}  

MIAMI, FL--(Marketwire - August 17, 2009) - Green Planet Bioengineering CO., LTD. (OTCBB: [ GPLB ]) ("Green Planet" or the "Company"), a bioengineering subsidiary of ONE Holdings, Corp. (OTCBB: [ ONEZ ]) that creates high quality health supplements and organic fertilizers and pesticides using green processes, reports second quarter and YTD 2009 results.

Second quarter 2009 revenue was $2,169,748. EBITDA (defined as earnings before depreciation, amortization, interest and taxes) was $920,085. Operating Income was $841,466. Net Profit reached $615,857.

YTD 2009 revenue was $4,467,369 while YTD 2009 EBITDA reached $2,131,764. YTD 2009 Operating income and net income came to $1,981,689 and $1,458,582 respectively.

 Three months Six months ----------- ----------- June 30, June 30, 2009 2009 (unaudited) (unaudited) Sales revenue $ 2,169,748 $ 4,467,369 Cost of sales (988,587) (1,841,273) ----------- ----------- Gross profit 1,181,161 2,626,096 ----------- ----------- Operating expenses 339,695 644,407 ----------- ----------- Income from operations 841,466 1,981,689 Other Income/(Expenses) (6,895) (6,734) ----------- ----------- Income before income taxes 834,571 1,974,955 Income taxes - Note 4 (218,714) (516,373) ----------- ----------- Net income $ 615,857 $ 1,458,582 =========== =========== Earnings per share - Note 5 - Basic $ 0.04 $ 0.09 =========== =========== - Diluted $ 0.03 $ 0.07 =========== =========== 

"We are pleased with our second quarter and 2009 YTD results. We continued to maintain high gross margins in excess of 59% and deliver strong positive net income. Our earnings per share now reach $0.09 for 2009 YTD in line with our expectations. Sales of Solanesol continued to rank first amongst all our products with an increasing demand for our organic fertilizers and other health nutrients. We also finalized during the second quarter a critical lease for 1824 acres of medicine based land that we intend to utilize for the growing of Sarcandra Glabra and various plants for extracting Resveratrol. Ethyl acetate extracted from Sarcandra Glabra is critical to cancer cure researches done worldwide thus in high demand. Resveratrol is a powerful phytoestrogen antioxidant which is believed to have several health benefits such as cancer prevention, promote longevity and improve Alzheimer's disease. Both of these are highly sought extracts and they will result in substantial revenue to our company," commented Green Planet Chairman and CEO, Mr. Min Zhao.

"We are now gearing up for what are historically the two strongest quarters of the year. Our R&D progress in the first half of 2009 has allowed us to complete development for the Ethyl acetate extract and Resveratrol which are two new products we have launched late in the second quarter. These products coupled with the improvements made to our current portfolio should drive our performance for the remainder of 2009," added Mr. Zhao.

About Green Planet

Green Planet Bioengineering CO., LTD. ("Green Planet") ([ http://www.greenplanetbio.com ]) (OTCBB: [ GPLB ]), a subsidiary of ONE Holdings, Corp. (OTCBB: [ ONEZ ]), through its Chinese subsidiary is a high-tech bioengineering enterprise that engages in research & development, production and sale of various extracts from tobacco leaves residues destined for health supplements and organic agricultural products. Green Planet is headquartered in Miami, FL with its main operation located in Sanming and Fuzhou, China. Since founded in 2005, Green Planet offers a full range of high quality bio-ecological products which include raw chemical materials such as CoQ10 and Solanesol, organic fertilizers and pesticides and organic health nutrients and supplements. The Company's unique position in the bioengineering industry comes from its R&D using patented cutting-edge methods to create abundant downstream products ranging from plant indigenous medicine, pharmaceutical intermediates to a long list of eco-friendly products.

About ONE Holdings, Corp.

ONE Holdings, Corp. ("ONE") (OTCBB: [ ONEZ ]) ([ www.onehcorp.com ]) headquartered in Miami, FL, is an investment company owning majority equity interest in core operating assets in Biotechnology located in the Asia Pacific region. Through ONE, small private companies gain access to capital, experienced management and strategic insight. ONE intends to build strong synergies amongst all subsidiaries to enhance shareholder value. ONE is working with each subsidiary to promote organic and acquisition driven growth. ONE plans to leverage its financing and distribution subsidiaries to provide ONE's very profitable biotechnology businesses with growth capital and expanded distribution allowing them to achieve scale. As scale is achieved, ONE intends to bring each subsidiary public to maximize value to its investors.

This press release includes statements that constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Reform Act"). Green Planet Bioengineering, Co., Ltd. claims the protection of the safe-harbor for forward-looking statements contained in the Reform Act. These forward-looking statements are often characterized by the terms "may," "believes," "projects," "expects," or "anticipates," and do not reflect historical facts. Specific forward-looking statements contained in this press release include, but are not limited to: our successful integration of diversified growth companies, impact of the company's expansion plan, and new business development success, future financial results, development and acquisition of new product lines and services, the impact of competitive products or pricing from technological changes, the effect of economic conditions and other uncertainties. The forward-looking statements contained herein involve risks and uncertainties that could cause actual results to differ materially from the expectations contained in any such forward-looking statements. These risks include, but are not limited to: failure to manage operating expenses or integrate new companies and/or technologies, each of which could have a material impact on our business, our financial results, and the company's stock price. These risks and other factors are detailed in the Company's regular filings with the U.S. Securities and Exchange Commission. Most of these factors are difficult to predict accurately and are generally beyond the Company's control. Forward-looking statements speak only as to the date they are made and Green Planet Bioengineering, Co., Ltd. does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.